CIMA BA3 Syllabus B. RECORDING ACCOUNTING TRANSACTIONS - Difference between tangible and intangible - Notes ^{28 / 35}

The difference between tangible and intangible non-current assets

Tangible non-current assets are defined as those which

1. are held for use in the production or supply of goods or services for administrative purposes; and

2. are expected to be used during more than one period.

An intangible non-current asset is an identifiable, non-monetary asset without physical substance.